JPMorgan plans contingent interest autocalls on gold ETF

By Sarah Lizee

Olympia, Wash., Aug. 21 – JPMorgan Chase Financial Co. LLC plans to price autocallable contingent interest notes due Aug. 31, 2021 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by JPMorgan Chase & Co.

The notes will pay a contingent monthly coupon at an annual rate of at least 12% if the fund shares close at or above the 85% coupon barrier level on the review date for that month. The exact coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if the ETF closes at or above the initial level on any monthly review date other than the first, second and final ones.

The payout at maturity will be par plus the final contingent interest payment unless the final share price is less than the 85% buffer level, in which case investors will lose 1% for each 1% decline of the ETF beyond 15%.

J.P. Morgan Securities LLC is the agent.

The notes (Cusip: 48132M6U0) will price on Aug. 26.

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